State of the market: risks persist in the market

Trading on Thursday opened with a moderate decline in stock indices in the Asia-Pacific region. After it the commodity currencies came under the pressure also. The reason for the preservation of pessimistic sentiment remains the risks of an aggravation of the US-China trade war. Despite the absence of significant statements on this issue, all signs point to a tightening of tension, namely, it is worth noting the increase in the price of gold and the decline in the Chinese yuan against the US dollar. This indicates that the market is preparing for another tightening of the trade war.

The US dollar index is trading at the opening of the day level near the  98.20. Thus, maintaining an upward trend, which is limited by overbought and lower  US government bonds yields. Significant resistance is located at the levels: 98.30 and 98.50, support: 98.00 and 97.80.

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Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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